Allowing the FHLBanks to offer letters of credit backed by locally issued tax-exempt bonds could speed work on waste and water treatment facilities, road and bridge repairs and other municipal infrastructure.
The deal will help support the development of 1,500 units of senior housing in Arizona, more than half of which will be affordable to renters with incomes lower than 50% of AMI.
A group of 22 insurers and reinsurance companies are now on the hook for $844.8 million in mortgage credit risk on $23.1 billion in single-family loans.
When poet T.S. Eliot wrote those immortal words about spring, he wasn’t thinking about the home-finance sector. But company headcounts are being reduced as shops plan for leaner days ahead.
Some $920.73 billion of mortgages originated during 2021 were sold to unaffiliated non-agency buyers during the year, a 19.6% increase compared with 2020. Guaranteed Rate was the top correspondent seller. (Includes data chart.)
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